Fannie Mae sells $500 mln bills at lower rates

April 24 Wed Apr 24, 2013 9:54am EDT

April 24 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $500 million of benchmark bills at lower interest rates compared with last week's sale of similar maturities.

Fannie Mae said it sold $250 million of three-month bills due July 24, 2013 at a 0.059 percent stop-out rate, or lowest accepted rate, down from the 0.065 percent rate for $250 million of three-month bills sold April 17.

The company also sold $250 million of six-month bills due Oct. 23, 2013 at a 0.095 percent rate, down from the 0.100 percent rate for $250 million of six-month bills sold a week ago.

The three-month bills were priced at 99.985 with a money market yield of 0.059 percent. The six-month bills were priced at 99.952 with a money market yield of 0.095 percent.

Settlement is April 24-25.